BlackRock Capital Allocation Term Trust (NYSE:BCAT) Trading 0.7% Higher - Here's Why

Key Points

• BCAT shares rose 0.7% in mid-day trading to $15.865, with trading volume slightly above its average daily level.
• The trust announced a monthly dividend of $0.2542 per share, implying an annualized yield of approximately 19.2%; the ex-dividend and record dates are September 15.
• Institutional investors own 36.12% of BCAT, while several hedge funds and advisory firms recently increased their holdings.

BlackRock Capital Allocation Term Trust (NYSE:BCAT - Get Free Report)'s stock price was up 0.7% during mid-day trading on Monday . The stock traded as high as $15.92 and last traded at $15.8650. Approximately 741,994 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 724,242 shares. The stock had previously closed at $15.76.

BlackRock Capital Allocation Term Trust Trading Up 0.7%

The company has a fifty day moving average price of $15.74 and a 200 day moving average price of $15.19.

BlackRock Capital Allocation Term Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.2542 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 19.2%. The ex-dividend date is Tuesday, September 15th.

Institutional Trading of BlackRock Capital Allocation Term Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its stake in shares of BlackRock Capital Allocation Term Trust by 341.7% in the second quarter. Geneos Wealth Management Inc. now owns 2,045 shares of the company's stock valued at $31,000 after buying an additional 1,582 shares in the last quarter. N.E.W. Advisory Services LLC grew its holdings in shares of BlackRock Capital Allocation Term Trust by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 2,400 shares of the company's stock valued at $34,000 after buying an additional 1,200 shares during the last quarter. McIlrath & Eck LLC increased its position in shares of BlackRock Capital Allocation Term Trust by 169.6% during the first quarter. McIlrath & Eck LLC now owns 3,130 shares of the company's stock worth $44,000 after acquiring an additional 1,969 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of BlackRock Capital Allocation Term Trust during the third quarter worth about $47,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of BlackRock Capital Allocation Term Trust by 450.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,500 shares of the company's stock worth $81,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors own 36.12% of the company's stock.

About BlackRock Capital Allocation Term Trust

BlackRock Capital Allocation Term Trust NYSE: BCAT is a closed-end, diversified management investment company organized as a term trust. The fund's primary objective is to deliver high current income and total return by investing across a broad range of credit and equity markets. BCAT seeks to achieve this objective through a portfolio of corporate debt securities, floating-rate loans, convertible securities, common and preferred equity, and asset-backed securities.

BCAT employs an actively managed, multi-sector credit approach that spans investment-grade and below-investment-grade bonds, senior secured loans and structured credit.

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